Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price
by Michael Walen · The Markets DailyPepsiCo (NASDAQ:PEP – Get Free Report) had its price target dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $176.00 to $169.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 7.19% from the company’s previous close.
Several other research firms have also recently issued reports on PEP. Rothschild & Co Redburn increased their price objective on PepsiCo from $120.00 to $130.00 and gave the stock a “sell” rating in a research report on Tuesday, February 10th. Morgan Stanley upped their price target on shares of PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Evercore increased their price target on shares of PepsiCo from $152.00 to $165.00 in a report on Wednesday, February 4th. Royal Bank Of Canada boosted their price objective on shares of PepsiCo from $156.00 to $165.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Finally, HSBC upped their target price on shares of PepsiCo from $152.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.00.
Read Our Latest Analysis on PepsiCo
PepsiCo Stock Performance
PEP traded up $4.63 during trading on Monday, reaching $157.67. The company’s stock had a trading volume of 4,091,936 shares, compared to its average volume of 7,971,730. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The company’s fifty day moving average price is $158.89 and its 200-day moving average price is $150.16. PepsiCo has a 52-week low of $127.60 and a 52-week high of $171.48. The company has a market capitalization of $215.48 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.93 and a beta of 0.39.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 EPS. On average, equities analysts forecast that PepsiCo will post 8.3 earnings per share for the current fiscal year.
PepsiCo announced that its board has approved a stock repurchase program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Hedge Funds Weigh In On PepsiCo
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J. Derek Lewis & Associates Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $240,000. Purpose Unlimited Inc. acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $632,000. Cornerstone Planning LLC purchased a new stake in PepsiCo in the 4th quarter valued at approximately $2,644,000. Rockefeller Capital Management L.P. grew its holdings in PepsiCo by 3.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 735,926 shares of the company’s stock valued at $105,640,000 after buying an additional 22,497 shares during the last quarter. Finally, World Investment Advisors increased its position in PepsiCo by 14.0% during the fourth quarter. World Investment Advisors now owns 55,460 shares of the company’s stock worth $7,960,000 after buying an additional 6,830 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.
About PepsiCo
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.